Jeremy Hunt’s highly-anticipated financial statement due on Halloween will be delayed until November 17, No.10 has said.
The statement - first planned by Kwasi Kwarteng - has been upgraded to a full Autumn Statement.
It will set out Rishi Sunak’s tax and spending plans in the wake of Liz Truss’ chaotic mini-Budget.
Speaking to broadcasters on Wednesday, Hunt said it was “prudent” that the plan was “based on the most accurate possible economic forecasts”.
The statement was first expected on November 23, then it was moved to October 31 and now it will be November 17.
Hunt informed ministers of the decision at the first meeting of Sunak’s new cabinet in Downing Street on Wednesday morning.
Hunt said he discussed the move with Bank of England Governor Andrew Bailey on Tuesday night, adding he (Mr Bailey) “understands the reasons for doing that and I’ll continue to work very closely with him”.
He said it is essential to ensure the “very, very difficult decisions” that would be required on tax and spending “stand the test of time”.
“The OBR also want to make sure that their forecasts are the most accurate possible and there have been a lot of changes even in the last 48 hours,” he said.
“And this is my recommendation to the Prime Minister as the best way to ensure that the decisions that we take, these very, very difficult decisions, are ones that stand the test of time and give us the best chance of giving people security over their mortgages, over their jobs, over the cost-of-living concerns that everyone has.
“I’ve demonstrated in the short time that I’ve been Chancellor that I’m willing to take decisions very quickly and I’m willing to make choices that are politically embarrassing if they’re the right thing to do for the country, if they’re in the national interest.
“Now we have a new Prime Minister and the prospect of much longer-term stability for the economy and the country.
“In that context a short two-and-a-half week delay is the best way we will make sure that it is the right decisions we take.”